Foreign press wary of agreement between Greece and lenders

The parliamentary election in Finland on Sunday was won by the opposition Centre Party's Juha Sipila, who may have to rely on the euro-sceptic Finns Party for support to form a coalition government – a development that analysts say raises risks to the future of the euro area, notes CNBC raising the alarm for Greece.

The Finns Party is against sovereign bailouts and wants to boot Greece from the 19-member euro zone. "Finland was in the anti-bailout camp before yesterday's election and it's now likely to take an even harder line towards Greece," Nicholas Spiro, managing director at Spiro Sovereign Strategy, told CNBC.

In another article, CNBC notes that Greece's fate hangs in balance amid contagion fear. As negotiations between Greece and its international lenders drag on, and the country's much-needed financial aid hangs in the balance, euro zone finance ministers told CNBC that the outcome of ongoing discussions was uncertain.

Meanwhile, the NY Times in an article titled Greece Flashes Warning Signals About Its Debt notes that “As the eurozone braced for the prospect of a default, financial markets were jittery last week and Greece’s own short-term borrowing costs were soaring. Repercussions of such a default are so difficult to predict that European officials have spent the last five years trying to avoid one.”

The newspaper notes that the Greek government and its lenders remain far apart. “Many European and I.M.F. officials are now openly complaining that Mr. Varoufakis is expending too much energy as a celebrity economist.”

MarketWatch dotes on European Central Bank Governing Council member Ewald Nowotny statements, who said a Greek exit from the euro wouldn't have the same impact as it would have had two years ago. The site also notes that European stocks are tumble as Greece crisis roils markets